TCFD Index

The Financial Stability Board Task Force on Climate-related Financial Disclosure (TCFD) has developed a voluntary, consistent climate-related financial risk disclosure for use by companies in providing information to investors, lenders, insurers and other stakeholders. The TCFD framework rests on four main tenets. The table below provides links to areas of this report that address those tenets.

Disclosure Focus Area

Recommended Disclosure

Source

Comment / Disclosure examples

Governance

Disclose the organization’s governance around climate-related risks and opportunities

(i) The Governance and Corporate Responsibility Committee (GCRC) of the GM Board of Directors (ii) is comprised of three independent directors. The GCRC provides oversight and guidance to management on policies to support the Company’s progress in growing the business globally within the framework of core values, including Climate Change. The GCRC discusses, and brings to the attention of the Board and management as appropriate, current and emerging global political, social and policy issues that may affect the business operations, profitability or public image or reputation of the Company. The GCRC oversees global public policy matters as well as specific functions of the Company, as appropriate. Company functions reviewed by the GCRC include Legal, Global Public Policy, sustainability, corporate social responsibility and philanthropic activities.

b) Describe management’s role in assessing and managing climate-related risks and opportunities

GM has a "Commitment and Accountability Partnership" or CAP system for performance evaluation and compensation. CAP goals are set at the beginning of the year and reviewed every six months for performance. Manufacturing executive leadership team members have the goal of meeting Energy targets in each region, and this is linked to compensation.

Strategy

Disclose the actual and potential impacts of climate‐related risks and opportunities on the organization’s businesses, strategy and financial planning.

Sustainability Report, CDP and 10K

GM's 2017 Sustainability Report, 2017 CDP Climate Change survey response and its fiscal year 2017 10K include information on actual and potential impacts of climate-related risks and opportunities on GM.

a) Describe the climate-related risks and opportunities the organization has identified over the short, medium and long term.

Regulatory risks are among the most significant risks likely to impact GM. Due to the potentially catastrophic effects of climate change, governments around the world have or are likely to enact, policies and regulations that could impact our operations and products. Because it may take three to five yearsdesign and develop a vehicle before it is launched in the market and then remain competitive and compliant for another four to seven years, GM must have a long-term approach to regulatory risks.

2017 CDP Climate Change survey response, Question CC2.2a

In the short term (zero to five years), GM is responding to climate change by setting aggressive energy and GHG intensity reduction targets through 2020. The internal process used is to integrate energy reduction into our business plan. Annually, we develop energy and GHG reduction targets at global, regfacility levels and include methods in our annual business planning process which GM calls its Business Plan Deployment (BPD). These methods include behavioral)—cold shutdown, energy efficiency)—LED lights, HVAC controls, and low carbon solutions)—for example use landfill gas to generate electricity. Each month data is collected on energy use and carbon emissions performance that is compared at each site to the target, and, if the target is not met, countermeasures are developed to meet them. An example of how this process has influenced business strategy is the development of an ongoing dedicated fund for energy savings projects of $20 million USD and use of energy performance contracting to fund energy- and carbon-reduction methods. In 2016, energy- and carbon-reduction projects resulted in 4.3 percent carbon reduction on an absolute basis.

FY 2017 10K

Item 1A. Risk Factors

b) Describe the impact of climate-related risks and opportunities on the organization’s businesses, strategy and financial planning.

With regard to climate change, risks and opportunities vary from government regulations to supply chain disruption. These are prioritized differences based on frequency of occurrence, time to respond and impact. For example, government regulations such as new fuel economy/CO2 tailpipe emissions are occurhigh frequency, but the time to respond is generally adequate to execute mitigation plans that minimize the impact to the Company.

2017 CDP Climate Change survey response, Question CC2.2a

Our R&D progress is significant. We’ve received more than 700 patents in fuel cell technologies since 2002)—more than any other company)—and we lead all companies in terms of most U.S. clean-energy patents granted since 2002, according to Clean Energy Patent Growth Index of U.S. Patents. This effort kdeveloping the Chevrolet Volt. As a result, the Chevrolet Volt is one of the most award-winning vehicles on the road today and has been the best-selling plug-in vehicle in the U.S. through 2016.

The Chief Risk Officer of GM is Mary Barra, also Chairman and CEO. The Risk Committee of the Board is responsible for overseeing GM’s management of enterprise-level risks. The Strategic Risk Management (SRM) team, led by an executive director with dedicated resources, has risk management responsibility andsupported by the Risk Advisory Council (RAC)—executives who directly report to the Executive Leadership Team (ELT).

In the short term (zero to five years), GM is responding to climate change by setting aggressive energy and GHG intensity reduction targets through 2020. The internal process used is to integrate energy reduction into our business plan. Annually, we develop energy and GHG reduction targets at global, regfacility levels and include methods in our annual business planning process which GM calls its Business Plan Deployment (BPD). These methods include behavioral)—cold shutdown, energy efficiency)—LED lights, HVAC controls, and low carbon solutions)—for example use landfill gas to generate electricity. Each month data is collected on energy use and carbon emissions performance that is compared at each site to the target, and, if the target is not met, countermeasures are developed to meet them.

c) Describe how processes for identifying, assessing and managing climate-related risks are integrated into the organization’s overall risk management.